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What is the most efficient way to dispatch taxis to optimize time and maximize revenue?

by

by :

Rachel C.

Summary

With large companies like Uber and Lyft relying on taxi dispatch optimization, it has become important to find the most optimal way to dispatch drivers to passengers, while maximizing efficiency and revenue. The research will commence with writing simple and cost-effect computer algorithms that will be put into a simulation to find which ones would make the most revenue. Whereas previous attempts have been focused on finding the one optimal solution, which would be computationally expensive, this research will find a simple and cost-efficient method that can still maximize revenue.